HONG KONG (AP) — HONG KONG (AP) — Alibaba Group Holding Ltd. (BABA) on Thursday reported fiscal first-quarter earnings of $3.34 billion.
On a per-share basis, the Hong Kong-based company said it had net income of $1.36. Earnings, adjusted for one-time gains and costs, came to $2.26 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.
The online retailer posted revenue of $33.47 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $34.95 billion.
Alibaba shares have risen 2.5% since the beginning of the year. The stock has dropped 15% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BABA at https://www.zacks.com/ap/BABA
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